XRP Price Prediction: Analyst Sees Massive 8,400% Surge to $44, Calls It ‘Conservative’
XRP Price Soaring? Analyst Predicts Massive 8,400% Surge to $44
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Crypto analyst Egrag Crypto has made bold predictions about the future of XRP, forecasting a staggering 8,400% rise in price, potentially reaching $44. Interestingly, Egrag considers this prediction conservative, hinting at even higher potential price targets.
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Based on Fibonacci Channel analysis, Egrag identified three key price targets: $13 (Fib 0.5), $27 (Fib 0.618), and $44 (Fib 0.702). The analyst is confident that XRP will reach these levels, citing historical chart patterns and the current bull market cycle as supporting factors.
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Conservative Estimates, Potentially Higher Gains
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Egrag’s labeling of these price targets as conservative suggests further potential for XRP’s value to climb even higher. While he refrained from specifying additional price targets, other analysts, like Javon Marks, have predicted XRP could even reach triple digits.
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Marks recently predicted XRP could soar to $200, citing the crypto’s break from a six-year Pennant pattern and the potential for a logarithmic follow-through after the breakout. He also expects XRP to reach $3.3 in the short term, approaching its all-time high of $3.8.
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Bullish Breakout and Divergences
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Marks highlights multiple hidden bull divergences since 2022, indicating a strong upward trend for XRP. This trend, he believes, will lead to a price gain of over 450% as XRP reaches the $3.3 range, potentially serving as a stepping stone towards his $200 prediction.
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Worst-Case Scenario Still Positive
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Even with these bullish predictions, Egrag acknowledges a worst-case scenario for XRP in this market cycle. He believes XRP would at least reach between $2.3 and $5.89, citing two key reasons for this optimistic outlook.
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First, he points to XRP’s 10x surge from the bottom after the US Securities and Exchange Commission (SEC) dropped its lawsuit in December 2020. He believes a similar outcome following the SEC appeal could propel XRP to the $5 to $6 range, potentially even reaching the Fib 1.618 level at around $6.5.
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Secondly, Egrag expects XRP to mirror Bitcoin’s price movements, as it did during the 2021 bull run. If Bitcoin reaches $80,000, XRP could potentially hit $2.31, and a Bitcoin price of $100,000 could lead XRP to $2.88.
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These predictions, while ambitious, highlight the potential for significant growth in XRP’s value. However, it’s crucial to remember that cryptocurrency markets are volatile, and past performance is not indicative of future results.
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Investors should conduct their own research and invest only what they can afford to lose.